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No. 165 of 487 · collapse ·

Terra's UST loses its peg and LUNA goes to zero

May 9, 2022

The algorithmic stablecoin UST slipped below a dollar and the mechanism meant to defend it minted LUNA without limit, taking both to nothing within the week. Around $40 billion of value was erased and the failures of several lenders that year traced back to it.

Sources

Scroll to zoom in on a week. Drag to move along the burrow. Click a roach.
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Study the cockroach.

turning points, each dated, sourced and graded, pinned along a cockroach burrow of every pump.fun tokens. Left is older. The chain is the thing that survives; so is the cockroach.